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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Accumuli | LSE:ACM | London | Ordinary Share | GB00B0YMTT32 | ORD 0.25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 31.25 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
Acambis acquires North American sales, promotion and distribution organisation Cambridge, UK and Cambridge, Massachusetts - 28 August 2003 - Acambis plc ("Acambis") (LSE: ACM, NASDAQ: ACAM) announces that it has established a sales, promotion and distribution organisation in North America through the acquisition of a leading travel vaccine business, Berna Products Corporation ("BPC"). Ahead of the submission of a Biologics License Application to the US Food and Drug Administration for Acambis' yellow fever vaccine, ArilvaxTM, expected during 2003, the acquisition of BPC will establish a critical sales, promotion and distribution infrastructure in North America for the expected launch of this vaccine next year. BPC has an established network of customers including travel vaccine clinics, medical practitioners with travel medicine practices, universities, federal, state and county governments, international companies and the US army. BPC has exclusive North American sales and distribution rights to Vivotif, an oral typhoid vaccine manufactured by Berna Biotech AG ("Berna Biotech"). Licensed in over 50 countries around the world and the only orally administered typhoid vaccine available, Vivotif has been registered and sold in the US since 1990 and Canada since 1994. BPC employs 13 people, with operations in Miami and Toronto, from where it promotes and distributes Vivotif to customers throughout North America. BPC was established in 1990 by Berna Biotech and Andres Murai, currently President and Chief Executive Officer of BPC. In 2001, Mr Murai acquired Berna Biotech's shareholding under a restructuring agreement, resulting in BPC being wholly owned by members of the Murai family. Acambis, through its US subsidiary Acambis Inc., has acquired 100% of BPC's share capital for US$8.4m in cash and may pay up to an additional $3.75m in milestones between 2004 and 2006, subject to the achievement of key sales targets for Vivotif and Arilvax. Mr Murai will continue in his position as President and Chief Executive Officer of BPC. In the year ended 31 December 2002, BPC achieved operating profit before tax and extraordinary items of US$1.0m and had net assets of $1.1m at 31 December 2002. The acquisition is expected to be immediately earnings enhancing for Acambis. Dr John Brown, Chief Executive Officer of Acambis, commented: "This is an excellent acquisition for Acambis, right in line with our strategy of establishing a sales and distribution infrastructure in the key US market. In addition to a profitable revenue stream from BPC's sales of Vivotif, we gain immediate access to a well-established business that has a recognised name in the travel vaccines field. We can leverage BPC's expertise and established relationships, structures and procedures for the sale of Arilvax and, in future, our other travel vaccines." Andres Murai Jr, President and Chief Executive Officer of BPC, commented: "Joining Acambis gives us the opportunity to expand and diversify our business with additional products that we can bring to our existing customers. This is an ideal match between an innovative vaccines company and a powerhouse marketer in the travel vaccine field. We are very much looking forward to joining the Acambis team." -ends- Enquiries: Acambis plc John Brown, Chief Executive Officer Tel: +44 (0) 1223 275 300 Lyndsay Wright, Director of Communications Gordon Cameron, Chief Financial Officer Tel: +1 (617) 761 4200 Financial Dynamics David Yates/Jonathan Birt Tel: +44 (0) 20 7831 3113 Notes to editors: Acambis is a leading developer of vaccines to prevent and treat infectious diseases. Recognised internationally as the leading producer of smallpox vaccines, Acambis provides governments around the world with the full portfolio of related smallpox vaccine products required to protect their citizens against the threat of smallpox virus being used as a bioterrorist weapon. Acambis is establishing a travel vaccines franchise, including vaccines against yellow fever, Japanese encephalitis, dengue fever and typhoid. Acambis also has the most advanced vaccine in development targeting the West Nile virus, which has spread to over 40 US States in the last three years. Acambis is based in Cambridge, UK and Cambridge, Massachusetts, US. Its primary listing is on the London Stock Exchange (ACM) and its shares are listed in the form of American Depositary Receipts on Nasdaq (ACAM). More information is available at www.acambis.com. "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: The statements in this news release that are not historical facts are forward-looking statements that involve risks and uncertainties, including the timing and results of clinical trials, product development, manufacturing and commercialisation risks, the risks of satisfying the regulatory approval process in a timely manner, the need for and the availability of additional capital. For a discussion of these and other risks and uncertainties see "Risk factors" in the Company's Annual Report and Form 20-F for the most recently ended fiscal year, in addition to those detailed in the Company's filings made with the Securities and Exchange Commission from time to time. These forward-looking statements are based on estimates and assumptions made by the management of Acambis and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results or experience could differ materially from the forward-looking statements. END
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